He said though the international freight charges have gone down but Pakistan freight forwarders charge higher overheads due to risk of terror attacks and the shipping companies have introduced a war risk surcharge, to cover the high insurance cost.
What does WRS stand for?
WRS stands for War Risk Surcharge (shipping industry)
This definition appears somewhat frequently and is found in the following Acronym Finder categories:
- Business, finance, etc.
See other definitions of WRS
We have 125 other meanings of WRS in our Acronym Attic
- Wire Wrap Removal Station
- Wood River Ride Share (Ketchum, ID)
- Work Related Road Safety (UK)
- World Relief Refugee Services (Baltimore, MD)
- Worldwide Readership Research Symposium (print media)
- Water Resource Restoration Sponsor Program
- Western Regional Radon Training Center (Colorado Springs, CO)
- Wachovia Retirement Services
- Wage Reporting System (various locations)
- War Reserve Stocks
Samples in periodicals archive:
As insurance companies raise rates and tack on war risk surcharges and premiums, the shippers are trying to transfer the responsibility of insurance onto the carriers.
The outbreak of war led to hefty increases in war risk surcharges for shipowner operating in the Persian Gulf, and many underwriters would quote rates only for the immediate 24- to 48-hour period.